Guideline Value for KAMARAJ NAGAR (KORATTUR) 1 TO 10 STREET

Kamaraj Nagar (Korattur) 1 To 10 Street guideline value

The current guideline value for Kamaraj Nagar (Korattur) 1 To 10 Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Kamaraj Nagar (Korattur) 1 To 10 Street has changed

The guideline value for Kamaraj Nagar (Korattur) 1 To 10 Street has seen several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure saw a decrease of 33% to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Korattur

In Korattur, there are a total of 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Kamaraj Nagar (Korattur) 1 To 10 Street above this median.

• Kamaraj Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Kamaraj Nagar Extension (All Street's): Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar (Thanthankuppam): Rs 1,600 per sq.ft (2024)
• Kammalar Street: Rs 1,600 per sq.ft (2024)
• Kamala Nagar: Rs 1,600 per sq.ft (2024)
• Kandigai Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar (Korattur) 1 To 10 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar (Korattur) 1 To 10 Street?

The Kamaraj Nagar (Korattur) 1 To 10 Street falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Korattur

The guideline value is a crucial factor in property transactions in Korattur, as it determines the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions. Buyers should be aware of the current guideline value to budget for these costs effectively.

Frequently asked questions

What is the current guideline value for Kamaraj Nagar (Korattur) 1 To 10 Street?

The current guideline value for Kamaraj Nagar (Korattur) 1 To 10 Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 375 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 780% over the years.

What was the guideline value in 2017?

The guideline value for Kamaraj Nagar (Korattur) 1 To 10 Street in 2017 was Rs 2,010 per sq.ft.

What is the registration fee for properties in Kamaraj Nagar (Korattur) 1 To 10 Street?

The registration fee for properties is 2% of the guideline value. For example, on a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Which office handles registrations for Kamaraj Nagar (Korattur) 1 To 10 Street?

The Villivakkam Sub Registrar Office handles registrations for Kamaraj Nagar (Korattur) 1 To 10 Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.